Why brands are investing millions in the metaverse - BBC News

Brands are spending tens of millions of dollars investing in the metaverse.

Gucci, Nike, Burberry and Walmart are just some of the companies buying up digital land as a way to promote their products.

Nearly $2bn has been spent in the past year on metaverse real estate, according to analysts.

But it’s not just big corporations turning to virtual reality: some artists and smaller businesses believe this new technology is the future of retail, and are making products which can only be sold within the metaverse.

This film is from Click - the BBC’s weekly technology show.

#SocialMedia #BBCNews

[matthewv]

You do realise meta has lost 80% of its value this year

[BraveSirRobin-py]

Billions of dollars invested and the best they can come up with is a naff looking experience from the early 90s. Incredibly poor graphics, lag and abysmal framerates is not the way to get people on board.

[amgolemn]

Spending money on cool looking clothes, only to realize that you are actually not wearing it in real life.

[krunkle]

Good example that money and brains don't always coincide.
Isn't Second Life still running?

[scottblakewhitford]

It will be the biggest failure of all times, Facebook will be torn apart by their investors.

[ThatDogBarkz]

Im really happy i no longer use social media. This is BS.

[башарал]

This is either one of the most expensive dillusons in a long time or it's a new stage of modern dystopia

[mistervo]

Some people just have too much money... At the same time they don't have enough money to pay their taxes

[migsvensurfing]

Many years ago the exact same idea emerged. It was named second life and had a currency called Linden dollar. It was hyped in the media but failed anyway after some time. It was simply to boring. Metaverse may have better graphics but f.ex. Pacman is still Pacman even in 3D and will never take off. Probably this goes the same way.

[Hwrackham]

Tell me you take checks from Facebook, without directly telling us.

[amgolemn]

Can't wait until someone finds a duplication glitch and breaks the metaverse.

[allosaurusfragilis]

If we lived deep underground after nuclear or climate devastation, I could see why people might want to do this. Or possibly someone totally paralysed could get something from it.
Why any fit person would not want to enjoy their short time in the real world, with all its beauty, is beyond me and quite sad.

[berwickperu]

Times have changed and now stock market is all about pump and dump leaving retailers as bag holders. Bag holders turned to long term investors will still bag hold and stock might go to zero. There is too much news, too many analysts, too many factors, too many firms, insiders influencing the stock price. Retailer money is being sucked. I made $172k combined net last year and paid no Federal taxes.

[viniciobb]

The world is getting too ugly... Full of poverty... Let's tackle this problem? Nahhh .... Let's live in a video game

[viniciobb]

Let's build bridges or orphanages... Nahh I'm going to expend billions on land that doesn't exist.

[dotexegames]

Three seconds later....why brands lost millions in the metaverse :-/

[andrewedgar]

If clothing in the real world is susceptible to knock offs, then how can these digital clothes be any different. Surely there will be platforms on the dark web where you can get these “designer clothes” for cheaper or free

[andrewbartlett]

This feels very much like a PR piece. With loads of negative press on the metaverse in the wider press, timing seems more than coincidental. Disappointing BBC

[james]

"the younger generation doesn't understand real life from digital" 7:07 I played all games all my life however I have evolved to a higher level and recognize that the TV is a screen that projects the game from the console to the player which isn't real but just a pastime kind of like football or baseball.😂

[VisagesSausages]

Probably not the best business practice to call your only current customers “freaky nerds” 😅 at 8:45